Sprayking Subsidiary Secures ₹52 Million Brass Billets Export Order for China via Dubai Buyer

Mumbai, 9 June 2025: Sprayking Limited (BSE: 540079) has announced a major development involving its wholly-owned subsidiary, Narmadesh Brass Industries Limited, which has secured an international export order worth approximately ₹52 million. The procurement contract was placed by a Dubai-based client, and the consignment will be shipped to China.

Following the announcement of a ₹52 million export order secured by Sprayking Limited’s wholly-owned subsidiary, Narmadesh Brass Industries, the company’s stock showed a marginal upward movement in early trade on the BSE. On June 9, 2025, at 9:30 AM IST, Sprayking Limited’s stock traded at ₹6.41, up by ₹0.030 or 0.47%. The stock opened at ₹6.47, touched a high of ₹6.55, and a low of ₹6.38. With a market cap of ₹67.74 crore and a P/E ratio of 0.93, the share remained above its 52-week low of ₹5.36 but far from its ₹23.00 peak.

Key Contract Details

This order marks a crucial milestone for the Sprayking Group, strengthening its global supply chain footprint and accelerating its export growth, especially amidst increasing demand for precision brass components across Asian markets.

Strategic Significance

This export deal is in line with Sprayking’s evolving global strategy. The company, originally known as Sprayking Agro Equipment Ltd., is now expanding as a diversified exporter of metal components. Founded in 2005, Sprayking has built expertise in copper forging, lead-free brass fittings, agricultural sprayer components, and garden accessories.

With a presence in India, USA, Europe, Canada, South Africa, UAE, and Australia, the company is leveraging this order to further establish its position as a key player in the global brass industry.

The brass billets included in this export contract are designed to meet international metallurgical standards, bolstering Narmadesh Brass Industries’ reputation for delivering high-quality, precision-engineered products.

Bigger Picture Impact

• Revenue boost & margin leverage: With contract value pegged at ₹52 million (~$625,000), this injection is sizeable relative to Sprayking’s FY25 consolidated revenue of ₹128 crore and net profit of ₹7 crore. Though not transformative alone, it contributes ~0.4% of revenue and supports profitability as scale improves.
• Enhanced manufacturing capacity: Building on previous acquisitions—like the Jamnagar 3,000 m² plant and 51% stake in Narmadesh Brass (2,000 tpa capacity)—this deal underscores effective utilization of assets and supports scaling export-tailored capacity.
• Strategic entry into China’s high-demand market: China’s precision brass component sector is growing rapidly. This contract positions Sprayking as a trusted supplier, offering a stepping stone to further Chinese and Middle Eastern contracts.
• Operational and contractual validation: Supplying to a Dubai-based buyer who ships to China adds credibility for future bidders, aligning with global metallurgical and logistical standards.

Management Statement

Hitesh Dudhagara, Managing Director of Sprayking Limited, stated:

“This significant export order for China from a Dubai-based entity is a remarkable achievement for Narmadesh Brass Industries. It underscores our expertise in producing high-quality brass billets and our strategic focus on global markets. We remain committed to delivering value to our stakeholders through ethics, innovation, and sustainability.”

About Sprayking Limited

Sprayking Limited (CIN: L29219GJ2005PLC045508), listed on the BSE, is engaged in the manufacturing and export of brass forged and turned components. The company’s core offerings include copper forged items, transformer components, and precision brass fittings.

Supported by a strong R&D infrastructure and a focus on craftsmanship, Sprayking continues to expand its global reach through innovation-driven products and strategic international orders such as the current brass billet deal.

REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/5ba6042d-e1f5-43d3-a79b-d7af35857ca6.pdf

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